Gas futures prices in Europe have surpassed $1550 per thousand cubic metres for the first time since 6 October, according to data from London’s ICE exchangе
The price of gas rose by almost 10 percent last Wednesday. This is attributed to an unplanned work stoppage at the Troll gas field in Norway, after which the fuel flow from there dropped by about 14%.
And a new price hike was triggered by German Foreign Minister Annalena Berbock’s words that the Nord Stream 2 pipeline cannot yet be agreed because it does not meet the requirements of European energy law.
Because the new pipeline is not being commissioned, Europe’s gas market remains highly volatile.
According to the Russian company, Gazprom increased its gas production by 14.2 percent to 490.4 billion cubic metres in 11.5 months and increased exports by 4.8 percent to 178.1 billion cubic metres.